Apple reported its fourth quarter 2016 financial results today, with 45.5 million iPhones and 9.2 million iPads sold. The company posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion, or $1.67 per diluted share. In Q4 2015, Apple had revenue of $51.5 billion and net income of $11.1 billion, or $1.96 per diluted share. Gross margin was 38 percent compared to 39.9 percent a year ago. International sales contributed to 62 percent of this quarter’s revenue.
For Q1 2017, Apple is providing guidance of revenue between $76 billion and $78 billion, and gross margin between 38 percent and 38.5 percent. Apple’s earnings call will begin at 5 p.m. Eastern time, and can be heard live on the company’s investor website. We’ll have a recap shortly after.
“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”
“We are pleased to have generated $16.1 billion in operating cash flow, a new record for the September quarter,” said Luca Maestri, Apple’s CFO. “We also returned $9.3 billion to investors through dividends and share repurchases during the quarter and have now completed over $186 billion of our capital return program.”